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AMA Recap Standard Protocol

AMA Recap Standard Protocol

Segment 1 – Questions from Cryptoiz

Host: Would you explain briefly about this project?

March Zheng (MZ): Standard Protocol is a multichain integrated protocol which is supported by every layer within the blockchain ecosystem. We provide a Layer 1 stablecoin with Parity Substrate connected as the parachain on Layer 0, and we have a multichain ecosystem of stable coins in most blockchains integrated on Layer 1 and Layer 2. We use bridges and other interchain solutions to make everything connected.

Host: Now every coin is trying to make the best blockchain system, with this Multichain and the bridges, everyone will be able to use everything

MZ: Yes, interoperable is key 🙂

Host: I wonder what the name Standard Protocol in this project was inspired from?

MZ: We want to be the standard of stable coin integration (as our CTO Billy has suggested)

Host: Can you explain Standard Protocol vision and mission?

MZ: We use bridges and other interchain solutions to make everything connected and interoperable

Host: Interchain will be used en masse

MZ: Yes sir

Host: Interchain will be used en masse

MZ: We have Meter (MTR), Liter (LTR), Standard (STND). MTR is our stablecoin generated from collaterizing other tokens in the blockchain network. LTR is our LP token for DEXes which can benefit from liquidated collaterals. STND is our governance token to decide the future of our multichain ecosystem and can claim shares of stability fees paid back in MTR.

Host: With this, the STND is not gonna be dumped. because Standard has their own Stablecoin for the reward

MZ: Exactly! There are mechanisms of control and protocols to protect users. Which our most important dilemma

Host: Okay i think this is an information that our community looking for at the moment, last question, which exchange has Standard been listed?

MZ: CEX: Gate, Kucoin, Coinone and tmr’s MXEC Global
DEX: Uniswap. With more potentially in the pipeline! Be on the lookout!

Host: gate.io now is really hype with their launchpad and high of volume, you have a good choice listed there

MZ: Haha, absolutely

Segment 2 – Questions from Twitter Community

Host: Successful project mostly start with good partnership with incredible partner. We believe Standard Protocol also agree with this. Do you have collaboration with other institution? Can you elaborate about the partnership?

MZ: We have a deep connection with Polkadot, Polygon and Shiden Network. We have received their grants.
1.Polkadot Ecosystem: DIA、Plasm Network、Bondly Finance、HAPI、Idavoll、Shyft Network、Darwinia、Litentry、Paract Lab、Bridge Mutual、DexTools、Konomi、Coin98
2.Kols: Joseph Young,CryptoIZ, Crypto Banter,inston Wolfe, Crypto of Secret, Carl the Moon, Crypto Rank, Crypto Differ, MoonWalker, ShinChan, Coach K, Altcoin Alerts, Polkawarriors, Bigcoin Vietnam, Crypto Fomo, Blockstar, Gill Capatain, Crypto booster
3.Investment Agency: CMS,DFG,NGC,4SV,A195,Rarestone,LinkPad,Spark Digital,Moonwhale,Phoenix VC,Signal Venture,Momemtum 6,Blocksync,Lotus Capital,AU21,GenBlock, D64 Ventures,CryptoDreamFund,Master Ventures,Aspectus Ventures

Host: I understand that standard protocol is a rebase stablecoin project, but do your project also offer passive income like farm, stake and liquidity mining? Or maybe do you have incentive and reward program for holder?

MZ:

A:In bull run, one can leverage trading by
1) Collaterize MATIC and get MTR
2) Use MTR to buy more MATIC
3) Wait for MATIC price to go up
4) Payback MTR with the price that you borrowed before with a fee cost
5) PROFIT

In bear run, MTR acts as a global put option by
1) Stacking MTR and preparing for liquidation
2) Find liquidated collaterals in our LTR DEX and buy collaterals with cheaper price with MTR
3) Wait for Collateral price (e.g. WBTC) to go up for the next bull run
4) PROFIT
Standard Protocol tries to provide investment opportunities in both bear run and bull run scenarios. You will be able to discuss best times for strategy execution in our channels post deployment.

Host: I found on your roadmap that in Q4 2021 you are planning to build first “COMMISIONED CEDEFI” product . Can you tell us more about this product, What will be working Mechanism an how it will benifits the STANDARD users?

MZ: We are still in stealth mode in this regard and update accordingly through our public community outlets. Regardless. The focus remains empowering STND holders and users

Host: Is it actually true that STND Protocol employs overcollation in order to mint its stablecoin, Meter (MTR)? Tell us something about it, for insntace, what benefits does it offer for stablecoins? Does it help to obtain an elastic supply?

MZ: Actually, We have adopted the rebase mechanism for this type of implementation.
Rebase mechanism is the mechanism where the parameter of the system is adjusted in a specific period. Standard protocol uses the rebase mechanism to try an alternative method from Makerdao’s soft pegging. The protocol adjusts the supply of MTR to be generated and the adjustment happens when the price goes outside of epsilon(0.1~0.5% of the token price which has to be 1$).

Host: I do really like stablecoin bc It’s like a safe token. But in a market with so many stablecoins what other Features besides this usefulness your stablecoin have? How does it compare to other more recognized stablecoins like tether?

MZ:

Currently, there are some problems with the stablecoin industry. There is Too much focus on price stability, without sustainable use cases for interoperability
Current algorithmic stablecoins are focused only on automated price stability. Although they provide some interoperability between tokens with initial distribution via yield farming, there is still no sustainable way for them to interoperate in financial activities without the unsustainable level of token issuance distributed to staking pools.
Current oracles are centralized, and there is no decentralized ecosystem to reward them
There is no reward system for oracle providers currently, and the current solutions are either controlled by validators or by the companies themselves. One can be dependent on DEXes, but they are prone to flash swaps and generating unwanted arbitrage data when compared to centralized exchanges. In order to provide aggregated and balanced data, oracle providers must be rewarded in a decentralized manner. Standard Protocol proposes a reward mechanism in each era and slashes equivocation with the IQR rule.

Auctions are hard to track and are centralized
Liquidation auctions are hard to track and participate in, and thus only experienced traders can benefit from them. A more decentralized method to liquidate positions must be considered. Auction orders come in high volumes of collateral, which can lead to plutocracy.
We come up with Collateralized Rebasable Stablecoin (CSR), which rebases available supply for generating stablecoins to provide more robust stablecoin solution. When (other) stablecoins focus on collateralization and do not prepare on value loss from liquidation,Standard focuses on fairer liquidation using Bond as NFT or liquidation by providing arbitrage opportunities where we just throw liquidated collaterals to MTR pair.

Segment 3 – Questions from Live Member

Host: What makes you feel confident, that your project will move forward again?

MZ: Our sovereign advantage. Crypto is global and multi chain

Host: To date, what project are you most proud of and which attracts investors the most?

MZ: Our interaction with polygon and polkadot, and receiving grants hence for

Host: Bear market will not be easy for a new project to survive. We have seen so many projects failed to survive in the bear market, Have you thought about this? What are the plans on surviving on bear market?

MZ: Generating yield from our protocol in every type of environment

Host: Trust is very important in business, what makes investors, customers and users feel safe when working with your project?

MZ: Our transparency publicly.. and ability to convey professionally with ebertone

Host: What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?

MZ: Integration with more layer 1s, further exchange listing, and expanding the team

Host: Do you guys feel satisfied by seeing your progresses and achievements till now, when you look back to the day when you have started this project?

MZ: Just the beginning. IDO phase was strong.. now full on tech integration

Host: Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiration for approaching to this name?

MZ: Standard benchmark of defi and crypto.. ambitious we know.. but why try anything else otherwise?

Host: I understand that standard protocol is a rebase stablecoin project, but does your project also offer passive income like farm, stake and liquidity mining? Or maybe do you have an incentive and reward program for holders?

MZ: More info can be found on our website! We are always incentivized to reward stnd holders

Host: As an individual user ,In What ways can I contribute to the development of ? Do you have Ambassador programs and What are its benefits?

MZ: We do, crypto is global and you can find the reward incentives on our website. Faster TPS, and a strong layer 1 connection. We can integrate with sovereign here

Host: Is any CEX or DEX listing on the way? Can you give us some clues about particular exchanges? When will the listing happen?

MZ: More! Be on lookout announcement channel!

Host: Now that #StandardProtocol is the first Stablecoin Rebase Project working on Polkadot, how do you plan to place StandardProtocol in the Polkadot ecosystem ?? On the other hand, what are the advantages Polkadot brings to StandardProtocol?

MZ: Brand recognition, tech validation. We will work closely with them as they expand as well. We are proud of their support

Host: Yeayyyy we’ve come to the end of the AMA! Thank you so much @marchzheng for your time. It’s great to have you here with us and the community. We are so excited about Standard Protocol and will surely check up the newest updates of your project on your website 🔥 thank you thank you thank you!

MZ: To the moon baby!

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